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mylaw.myby aturio
In forceUpdated to 2 Jan 2025Read it in Bahasa Malaysia
Contents

Part V · Payment Systems

41. Designation of Islamic payment instruments

Where the Bank is of the opinion that—

(a)

an Islamic payment instrument may be of widespread use as a means of making payment and may affect the payment systems in Malaysia; and

(b)

it is necessary to maintain the integrity, efficiency and reliability of the Islamic payment instrument, the Bank may, with the concurrence of the Minister, by an order published in the Gazette, designate such Islamic payment instrument as a designated Islamic payment instrument.

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Requirements for operation of payment systems and issuance of designated Islamic payment instruments

Report

Read on from s 42

Part VI

Prudential Requirements

Read on from Part VI

Part VII

Ownership, Control and Transfer of Business

Read on from Part VII

Part VIII

Financial Groups

Read on from Part VIII

Part VI

Part VI—

Read on from Part VI

Part IX

Business Conduct and Consumer Protection

Read on from Part IX

Part X

Islamic Money Market and Islamic Foreign Exchange Market

Read on from Part X

Part XI

Submission of Document or Information

Read on from Part XI

Part XII

Examination

Read on from Part XII

Part XIII

Directions of Compliance

Read on from Part XIII

Part XIV

Intervention and Remedial Action

Read on from Part XIV

Part XV

Other Powers of Bank

Read on from Part XV

Part XVI

Enforcement and Penalties

Read on from Part XVI

Part XVII

General Provisions

Read on from Part XVII

Part XVIII

Repeal, Savings and Transitional

Read on from Part XVIII

Schedules